Companies

Kalyan Jewellers invests Rs 50 crore in 2nd showroom in Pune

Our Bureau Pune | Updated on January 23, 2018 Published on October 19, 2015

Kerala-based jewellery brand Kalyan Jewellers has invested Rs 50 crore to set up its second showroom in Pune at Magarpatta. This is Kalyan's 86th jewellery showroom in India and the company plans on having 100 showrooms by the end of fiscal 16.

Speaking at the launch, TS Kalyanaraman, Chairman and Managing Director, said, “Our second showroom in Pune has been inspired by the overwhelming response to our first one on Karve Road. More than Rs 50 crore has been invested in the Hadapsar showroom. Maharashtra is an important growth driver for the business and we expect Pune to be among our top three emerging markets in the country.”

The company has already invested Rs 300 crore in Maharashtra and the demand momentum was expected to continue, Kalyanaraman added.

Spread over 10,000 sq ft, the new showroom will display not only an array of contemporary and traditional gold and diamond designs from across India curated by Kalyan’s in house designers, but in house brands such as Mudhra (handcrafted antique jewellery), Nimah (heritage jewellery), Sankalp (wedding jewellery), Floret (flower-based designs), Anokhi (uncut diamonds), Rang (jewellery studded with precious stones), Hera (daily wear diamond), Antara (celebration diamonds), and the Sinor Solitaire range.

Kalyan Jewellers has been aggressively expanding its distribution network after the recent equity infusion and expects to invest a total of Rs 800 crore by the end of the financial year to open 22 new showrooms in India and West Asia. It has a target to achieve revenues of Rs 13,000 crore from its 100 showrooms by March 31, 2016.

Published on October 19, 2015
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